This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #94: your boss is making you work overtime, so you don’t have time to do anything but work.
Time is running out. April 15 is approaching fast. You haven’t even started working on your tax return yet and your boss is asking you to work overtime. Yikes.
This is a scenario that plays out all over the country this time of year. And it’s the perfect formula for filing a tax extension to give yourself more time.
A tax extension is the perfect answer for these busy times. The reality is that April 15 arrives too early every year. It seems like there just isn’t enough time to work and manage things like taxes. An extension allows you to take a deep breath and file when things calm down at work. You’ll have an extra 6 months, so hopefully you won’t have to work O.T. for much longer.
Whether you are new to filing a tax extension or you are one of the 15 million individuals and businesses that file one every year, there’s one very important thing to remember: income tax extensions do not give you more time to pay what you owe the IRS for income taxes. You are still responsible for paying what you owe by midnight on April 15 (or March 15 for the corporate taxes). An extension gives you more time to file the necessary tax forms you’re supposed to file. Failing to make your payment on time could make you subject to tax extension penalties and interest.
If you have any thoughts, comments, or questions about tax extensions let me know in the comment section below.
This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #93: the Masters is on TV. There’s no time for taxes!
Normally The Masters draws the attention of golf enthusiasts around the world. If you love golf, you watch The Masters. That’s a given.
But this year is different. That Tiger guy is coming back. Now everyone will be watching – even people that don’t really care about golf. Most experts expect that this will be the most watched golf tournament of all time.
This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #92: you were using tax software and it crashed and lost your data.
Tax season is stressful for a lot of us. Most of us procrastinate, which doesn’t make things any easier. When we finally sit down to tackle our tax filing we just want things to be over. When things go wrong like when tax software fails, then that’s enough to drive you crazy.
This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #91: you file an extension online every year. Why change now?
We all have our habits. And a lot of us handle our taxes the same way every tax season. Some of us file early, some of us procrastinate and file at the deadline, and 15 million of us file a tax extension.
With the April 15th tax deadline quickly approaching, millions of Americans are stressed about getting their taxes filed on time and paying Uncle Sam any tax balance due. What taxpayers aren’t aware of, however, is that filing a tax extension will not only get you 6 more months to file your taxes, but could also provide you with the cheapest loan around, directly from the IRS.
While the popularity of tax extensions is growing due to increased complexity in tax code and a tough economy, many misconceptions still surround extensions. For example, many believe an extension to file your taxes increases chances of audit. That’s not true. If anything, a tax extension lessens one’s chances of being audited.
This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #90: baseball season starts in early April. You need to concentrate on your fantasy team.
Decisions. Decisions.
Taxes or fantasy baseball? Filing a 1040 or an auction draft? Taking that extra deduction or that all-important second closer in the first 15 rounds?
Need to file a tax extension? Need some extra cash?
Well then our friends over at Outright are running a really cool contest you need to check out right now before it’s over. Trust me. You’ll be glad you did.
All you need to to to enter to win the $500 cash prize is to tell the simple online bookkeeping website about why you’re filing a tax extension.
Then on April 15 they are going to pick a winner. Hint: the crazier your story the better. So be honest! And remember, don’t worry about your reason. The IRS doesn’t care why you file an extension.
This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #89: family obligations for Easter always get in the way of getting your taxes done.
Happy Easter everyone!
The last thing you want to think about on a holiday – or any Sunday in the Spring for that matter – is taxes. Today your brain should be totally focused on finding the most eggs in the egg hunt, not what your total tax liability was in 2009.
